What to Expect from The Yacht Industry in 2018

Kevin / October 17, 2017 / Comments Off on What to Expect from The Yacht Industry in 2018

The yacht industry is ever changing, while the root of the sector is always the same, providing great boats, great service, and the newest innovations to the yacht buying market there are also small changes that happen each year as the industry around the world changes. There are however, a few interesting things about the industry that we will see happening in the coming months, let’s check them out!

Over the past five years there has been a gradual decrease in Russian buyers, while they typically were buying up some of the world’s largest boats they had slowed down in 2016. This is seen to be reversing over the next few years though. Several yacht brokers in the industry have said that they have seen a slow rise in the number of Russian buyers in the last few months and they expect that to increase more and more. Owning a yacht is a great sign of wealth in their culture, so when they are able to it is something they will most definitely return to.

There is also a predicted increase in the Asian influence in the yacht market. It is something that brokers have been trying to tap into for years, there is an abundance of wealth in the Asian market and it would be ideal for the yacht industry to capitalize on that. The trend of owning yachts is most definitely on the rise in the Asian culture, of course they will not all start buying boats overnight but over the next few years you will more than likely see an increase in the number of purchases coming from Asia.

There has also been a shift in charter destinations, while the usual destinations, such as the Greek islands, the many Mediterranean options and the Caribbean will always be popular there are other more unique destinations that are seeing a huge increase in popularity in yacht charters. For example, Croatia has quickly grown in popularity especially the Dalmatian coast. While those who are looking for an alternative to the Caribbean have been turning to South East Asia as a similar yet different alternative to their usual island destination. There has been an increase in charter yachts in both of these areas due to the rise in popularity. As well as interesting trend reported by several yacht companies, stating that more and more people are booking last minute charters. While many used to plan these types of trips months in advance they are now looking for a last-minute luxury get away, regardless of when they book the charter companies are excited to see the steady rise in popularity all around the world.

While the yacht industry is an every changing one you can no doubt see that there are some very exciting changes coming to the market in the coming months. Whether you are a broker, a buyer, or a charter user you will surely see these changes and see how they are great improvements for the industry as a whole.